News & Insights

Expat financial services providers should consider MARD

However, it is only since 2014 that HMRC has been able to issue Advanced Payment Notices to expatriates who have used disputed tax avoidance / tax minimisation schemes. These APNs mean that those under investigation must pay upfront and dispute later.

There are a number of issues to consider for expatriates under investigation, not least for high net worth individuals living abroad who may find themselves unfairly targeted as a result of political motives and internal HMRC investigation targets.

Whatever the case, and whatever the possible rights and wrongs, it is essential that expats respond promptly to local tax authorities operating on behalf of HMRC – and the first component of this should be ensuring reliable expat financial advice together with jurisdictional legal advice.

Once this has been done there may, depending on the individual case, be plenty of scope for challenging the recovery of the claimed liability using MARD procedures.

Other News

BLACKTOWER VIEW – Keith Littlewood in Murcia and Costa Cálida

Spanish and British mugsKeith Littlewood is Blacktower Financial Management’s Regional Manager covering Murcia and Costa Cálida. As an international financial adviser of around thirty years’ experience and an expat of more than five years in Spain, Keith is ideally-placed to help expats negotiate the process of becoming an expat and can help them understand just what it means to be a fiscal resident in the country.

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Go Dutch?

French FlagBritish expats in the Netherlands are experiencing a difficult time at the moment. Not only do they have to deal with continued uncertainties over Brexit as well as government plans to overhaul the 30% expat tax break, they are also now having to digest news that the Dutch government is readying itself to publish new legislation regarding dual nationality.

However, early news suggests that developments on this final matter could prove to be rather more encouraging – albeit with a number of qualifications – with initial statements indicating that preparations are being made to reduce some of the restrictions on dual-nationality in the Netherlands.

As it stands, expats who wish to remain in the Netherlands and embrace Dutch citizenship are, in the majority of cases, obliged to renounce their nationality of origin. The choice is stark and onerous: go Dutch or stay as you are. This, of course, will prompt a number of British and Netherlands wealth management considerations and must be considered very carefully.

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